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Thursday, August 27, 2009

Thursday Swing Signals, Trend Busters and Trend Leaders for August 27, 2009

This is a quick post to announce that Thursday's Swing Signals, Trend Leaders and Trend Busters are now available at Alert HQ. All are based on daily data.

Today we have the following:
  • 30 Swing Signals -- 21 BUY signals and 9 SELL Signals.
  • 529 Trend Leaders, all in strong up-trends according to Aroon, MACD and DMI. We have 159 stocks that are new additions to the list and 97 that fell off the previous list.
  • 16 Trend Busters of which 10 are BUY signals and 6 are SELL signals.
The view from Alert HQ --

Thursday's signals always coincide with the release of initial jobless claims. This week, claims decreased a tiny bit and continuing claims did likewise. This was not enough to incite a rally and stocks dropped, only managing to struggle back and finish the day with the smallest of gains. Advance GDP for the second quarter was also released today and came in at -1%, better than consensus, but received no reaction from investors.

With respect to Alert HQ, we can make the following observation: Swing Signals down, Trend Leaders up. A week ago, we had a ton of Swing Signals but less than 200 Trend Leaders. It's good to see the number of stocks on the Trend Leaders list increase and it seems we are still in the range where we could see even more Trend Leaders before stocks get really overbought.

Though we have fewer Swing Signals, they again reflects bullishness as BUY signals outnumber SELL signals. We see the same situation in our Trend Busters.

It seems that each day gains in the major averages are exceedingly hard fought but, nevertheless, it's gains that we are seeing. Though it certainly feels like stocks are about to drop, our signals are not really showing much weakness. As I've said before, a sidewise market seems the most likely outcome in the very near term.

Using our signals --

If you're a momentum trader, the Trend Leaders list is a good place to go shopping. If you practice technical analysis, check out the Trend Busters. And if you are a short-term trader or even a day trader, our Swing Signals may provide some good trading ideas.

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